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Police seized many luxury watches in the raid of a Bondi Junction jewellery store
Police seized many luxury watches in the raid of a Bondi Junction jewellery store

Bondi jewellery store raided by police

Police raided a Bondi Junction jeweller last week seizing watches valued at $3.5 million in a crackdown on fraudulent sale of luxury watches.

More than 130 watches and $270,000 in cash were seized from Jacobsens Jewellery store on Thursday 19 July, in a joint operation involving local police, AFP, Australian Border Force and NSW Fair Trading.

Strike Force Donwy officers executed a search warrant on the property to crack down on the fraudulent sale of luxury watches. According to NSW Police, the operation targets counterfeit items and illegally imported items evading tax.

One of Jacobsens business owners, Gabby Saffo told Nine News the day after the raid that his business, in partnership with former bikie Mark Judge, was “completely legitimate”.

Saffo said he was unable to calculate how many watches were seized during the search warrant: “They took a lot of watches. You’ll have to ask them how many," he said.

The store sold watches within its Watch Exchange, where pre-owned luxury watches were held on consignment before they were sold for commission.

The seizure came after a 43-year-old man was arrested earlier in July for allegedly purchasing a Rolex watch “fraudulently” from the store. According to NSW Police, he was charged with dishonesty obtaining property by deception, possession of identity information to commit an indictable offence and dealing with property proceeds of crime.

The man appeared at Waverly Local Court on Wednesday 6 June where he was refused bail to reappear at Parramatta Drug Court on Wednesday 29 August.

Investigations are continuing.

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Thursday, 18 October, 2018 05:17am
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